AAA: Gas prices highest ever for Thanksgiving

November 19, 2012 3:30:58 PM PST
AAA Mid-Atlantic says this will be the most expensive Thanksgiving at local gas pumps ever.

A gallon is up 27 cents from a year ago.

And while travel spiked up 5% last year, this year Thanksgiving travel will be flat.

"The economy has stalled, gas has been so high this year and now we see that leveling out and people not traveling as much," Jenny Robinson of AAA Mid-Atlantic said.

Gassing up today in Trevose, Alex Knorr was planning to head for the shore saying gas prices are keeping her close to home this year.

"Instead of going to see family far away, I'm just going to stay close," Knorr said.

Maybe Atlantic City, we asked.

"Maybe Atlantic City. Maybe I will win some money there and be able to afford the gas," she said.

Joking aside, drivers are getting use to life in the $3.50 range.

"I don't have a choice, do I? I guess so," Ron Damiani of Trevose said.

Fay Williams commutes from Royersford to Trevose in a fuel sipping hybrid.

"52 miles per gallon is a wonderful thing," Williams said.

No matter what you are driving, gas prices have been dropping over the last month - about 19 cents.

The cost of gasoline is largely dictated by the cost of oil. Because of the slowing world economy, the cost of oil had been easing until last Friday.

That was when the oil markets became alarmed about the Israel and Gaza conflict.

Ross DiBono of the Pennsylvania Gasoline Retailers Association has watched this play out before.

Unless there is a major conflict, he thinks oil prices will settle down.

"Even though we have had this spike in last couple of days, barring again an all out war, I think prices will continue to drop," DiBono said.

DiBono's thinking is the demand worldwide (China, Europe, India) will remain low, so prices at the pump will continue to drift down in the months to come.


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